Who we are
City Forests Limited is owned by Dunedin City Holdings Limited (DCHL) and, ultimately, the Dunedin City Council (DCC). The Company is a Council Controlled Trading Organisation (CCTO). City Forests pays regular dividends to its shareholders and the forests assets form an important part of the DCHL group of companies.
An asset for the city of Dunedin
From 1906 to 1990 the forest assets were held directly by the DCC. City Forests was created in 1990 by the sale of the DCC forestry assets to DCHL for $25.7 million. Since then a total gain of $225.6 million (after tax) represents growth from the original investment of 978%. This is an annual rate of return since 1990 of 8.2%. The rate of return has accelerated in recent years, and over the last three years averages 14.2%.